Schenectady, N.Y. — The Schenectady County Metroplex Development Authority today announced that P1 Ventures will relocate manufacturing work from Colorado to New York creating 50 new jobs in Schenectady County. The company will open its third manufacturing facility in Schenectady and expand its software business in downtown Schenectady.
P1 Ventures will lease over 18,000 square feet at 1910 Maxon Road for the new manufacturing operation that will be relocated to Schenectady from Louisville, Colorado. P1 has a long-standing relationship with a company called Isolate Extraction Systems (IES) that builds supercritical CO2 equipment that extracts nutrients and chemicals from plants. The business serves the fast-growing CBD sector. The IES facility in Colorado will remain open as a sales and marketing operation and a service shop while all core manufacturing work is shifted to Schenectady.
“We are pleased to see the continued growth and success of P1 Ventures. This latest expansion creates new manufacturing jobs that we need as Schenectady County works to recover from the pandemic,” said Anthony Jasenski, Chair of the Schenectady County Legislature.
Mayor Gary McCarthy said, “As we look to build back better from the economic impact of the COVID-19 pandemic, we are excited to see P1 Ventures grow here in Schenectady and we look forward to their continued success in our community.”
The Maxon Road facility will be P1’s third manufacturing operation in Schenectady. The company current operates manufacturing plants located on Mohawk Avenue and Technology Drive. The company also has its headquarters at 414 Union Street, a building that P1purchased and renovated.
P1 is a technology driven manufacturing company that serves the power, aerospace, defense and emerging marketplaces.
David Dussault, owner and founder of the company said, “Our people are our greatest asset. We believe manufacturing jobs can transform our communities and create extraordinary opportunities for talented people to make parts for some of the world’s greatest companies and essential products. Schenectady has a rich heritage of industrial innovation and part of our mission is to build on that tradition to create the manufacturing companies and jobs of the future. Metroplex has been an incredible partner in helping us revitalize manufacturing in this great city and their vision and dedication to our community is a major reason we have decided to invest and build here.”
In addition, P1 is expanding its software company, P1ston, Inc., and will renovate 611 Union Street to house this growing operation. P1ston is a software technology company dedicated to transforming how manufacturing companies operate through optimizing make-to-order supply chains. The company’s CEO, PJ Bellomo, is a seasoned software executive and is leading the company’s expansion as it enters pilot programs with several notable manufacturing companies in the new year.
The Schenectady County Metroplex Development Authority is providing a $100,000 grant to help renovate 1910 Maxon Road for the new production line which is scheduled to open in the first half of 2021.
Ray Gillen, Metroplex Chair said, “This brings a fast growing new product line into a vacant manufacturing space in Schenectady. We are also excited about the growth of P1’s software company on lower Union Street as it adds to the cluster of growing software firms downtown. We thank David Dussault and his team for growing again in Schenectady County.”